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Harwood Feffer LLP Announces Investigation of Temple-Inland Inc.

^{Published on 2011-09-06 21:40:53 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Harwood Feffer LLP ([ www.hfesq.com ]) is investigating potential claims against the board of directors of Temple-Inland Inc. ("Temple-Inland" or the "Company") (NYSE: TIN) concerning the proposed acquisition of the Company by International Paper (NYSE: IP) in a transaction valued at approximately $3.7 billion.

On September 6, 2011, Temple-Inland and International Paper announced that they had entered into a definitive merger agreement pursuant to which Temple-Inland would be acquired by International Paper. Under the terms of the agreement, Temple-Inland stockholders will receive $32.00 in cash for each share of Temple-Inland common stock held. At least one analyst has set a target price for the Companya™s stock at $37.00. The latest offer is one in a series of attempts by International Paper to acquire Temple-Inland. The previous offer, on June 6, 2011, was for $30.60 per share and was rejected by the Temple-Inland board of directors, who said at the time that the offer agrossly undervaluesa the Company.

Our investigation concerns whether the board of directors has breached its fiduciary duties by failing to adequately shop the Company and whether the board undertook a fair process and obtained fair consideration for Temple-Inland stockholders.

If you own shares of Temple-Inland and would like to learn more about these claims or if you wish to discuss this matter and have any questions or information concerning this announcement, please contact Matthew Houston, Esq. at [ mhouston@hfesq.com ] or Benjamin Sachs-Michaels at [ bsachsmichaels@hfesq.com ]. You may also call them at (877) 935-7400. For more information about class actions, or to sign up online, please visit our website: [ www.hfesq.com ].

Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ([ www.hfesq.com ]). Prior results do not guarantee or predict a similar outcome with respect to any future matter.